Governor of the Bahrain Monetary Agency (BMA) Sheikh Ahmed Bin Mohammed Al-Khalifa has inaugurated the Bahrain commercial banking branch of National Bank of Kuwait (NBK).
NBK is the largest financial institution in Kuwait and the fourth largest in the Arab world, with assets worth $17.6 billion and a paid up capital of $1.8 billion. The bank has been operating an offshore banking unit (OBU) in Bahrain since 1977. The Bahrain branch is NBK's only operation in the Gulf Cooperation Council (GCC) region outside Kuwait.
Bahrain's financial sector currently comprises 355 banks, insurance firms and other financial services institutions, representing a blend of local, regional and international names. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
